Current Account in Luxembourg
Luxembourg - Current Account (billions of Euros)Incoming data suggests the economy gradually recovered in the third quarter, after GDP contracted for the first time in nearly eight years in the second quarter on the blow dealt by the coronavirus health crisis. New car registrations rallied in July and August, hinting at improved consumer spending in the quarter as restrictions were gradually lifted. Moreover, the unemployment rate logged the lowest reading in six months in September, indicating that the labor market continued to stabilize. Meanwhile, economic sentiment improved overall in the quarter, albeit deteriorating slightly in September amid renewed Covid-19 concerns as cases spiked again. Meanwhile, on 14 October, the government laid out its 2021 draft budget, aimed at containing the fallout from the Covid-19 crisis and supporting a healthy recovery, particularly through increased investment of 4.3% of GDP (EUR 2.7 billion).
Luxembourg - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||2.6||2.7||2.8||2.9||2.8|
5 years of economic forecasts for more than 30 economic indicators.
Luxembourg Current Account (EUR bn) Chart
Source: Central Bank of Luxembourg and FocusEconomics calculations.
|Exchange Rate||1.12||0.65 %||Dec 31|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 6, 2021
Consumer prices rose 0.05% from the previous month in April, slowing down from March's 1.41% increase.
April 23, 2021
In March, the number of unemployed workers came in at 18,689, which was down 4.0% from February’s result of 19,476.
April 15, 2021
Consumer prices increased 1.41% over the previous month in March, swinging from February's 0.69% fall.
March 22, 2021
In February, the number of unemployed workers came in at 19,476, which was down 2.0% from January’s result of 19,882.
March 17, 2021
The economy returned to growth in the fourth quarter of last year, with GDP expanding 1.4% year-on-year after flatlining in the third quarter.